The state pension age is officially under review. This will look at whether the increase in the state pension age to 68 should be brought forward 7 years. However, the state pension age increase is based upon the assumption of a perpetual increase in life expectancy. Recent life expectancy data suggests a levelling off and even a decline in life expectancy with notable regional variations.
Data also shows that ‘healthy life expectancy’ is also below the current state pension age.
So, will the data stop the increase in the state pension age to 68? Or will it lead to a reduction in state pension age? (And at what price?)
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They should leave it at 65, the only reason they want to keep putting it up is because the longer you keep working the more millions they make, when you’ve been working hard all your life you want to put your feet up and enjoy the rest of your life, they want you to work longer so you’ll die sooner and they’ll save money because you won’t be able to collect your pension, murderers.
Government plans to work us until we die, its the truth. While you work for peanuts, the rich laugh. They should lower pension age to 50, reasonable, halfway number, and let people actually LIVE a life.
I find it interesting the state pension age increases and yet we are still able to support financial migrants who have paid, no tax or NI contributions to the tune of millions per day? God laughs at people who make plans.
It's going up. Remember when the state pension came it, it was aged 70 for both sexes. Living longer has pushed the age further and will continue to do so. Looking after those retired represents the biggest slice of the social security pie. Working longer but on reduced hours, is the likely scenario as people take longer to ease into retirement. There is probably a stronger argument for UBI but that's off topic so I won't comment.
maybe if this affected MPs the results would be very different
Love your video! !! Get to the top quicker = P-R-O-M-O-S-M!!
People are said to be living longer. During the pandemic many older people died through neglect through loneliness and lack of proper health care. The government is now killing the older generation by causing the cost of living to soar and by reducing state pension hikes in keeping with this rise. Either eat or heat. Many will die. Many people are working into their 70s to basically exist. The phrase work till you drop is very much a reality
I see the government are in for a generous pay rise. For working so hard through this pandemic. Yes organising continual great parties can be so stressful.
The government just dont want people to get a pension they hope you die before you get it! People need to do what they did in France riot and riot hard to get it back to 65 I work construction and I can tell you at 54 I am finding working construction very difficult as my health is not good I got athritis in my knee and hand's and I can't see me getting to 67 working construction! Alright for pen pushing politicians that sit a desk all day with there high wage and fantastic pension and fuck the people who actively keep the country running through hard physical labour!
Alot of us will not live up to 68 or many years after that.
Appreciate half the population wont like this suggestion. To be fair to both men and women. Women have a longer life expectancy – why should the pension age be equal and women get more years of government pension than men.
Everyone should take control of their own retirement planning and not rely solely on the state pension.
Scrap Pensions The Clock Never stops Pay Basic Income or Min Wage For all Pensioners Pay 50 years Live 15 if your lucky UK Robbing Pensioners and Working People Time for Challenge and Change Reforms
Does mean Labour government in Britain yes even if right wing Tory party neoliberalism.
I personally think the state pension will be abolished and pension payments will be means tested, ie, what savings you have, property valuation, investments etc. This is why the law changed a while ago that companies must automatically enrol you into a pension scheme.
Not a chance of it coming down, even though its been proven that those in manual jobs up north live much shorter than those down south. The review will just be fiddled.
On average people aren't living longer there's just more of them
They want us to work till were in our 90s then they might think about givin us a few pennies…
Between my wife and i we lost 7years between us. Easy for politicians with millions in the bank.
Thank you for doing these videos. You use simple language,and you explain things and what could happen to the future
People like you are what we need to help us through this hard to understand subject
Ps I like your necklace, it’s beautiful. Rebecca xx
Our state pension is one of the worst in the world, real experts should be running it not the clowns in government. They keep increasing the retirement age across the board without taking into account the physical and mental damage our jobs cause. But then again, they don't care so long as they keep awarding themselves huge pay rises and golden pensions after a few short years in office.
UK pension is a joke. People can see what is going on.
I gave Helena a thumbs up because she is the best looking financial advisor 🙂
I was born in the 1950s expecting to retire at 60 but can't get State Pension until I'm 66 years old. This was based on people living longer. This is no longer the case so based on that evidence the state Pension age should be reduced not increased.
It should not keep going up it should stay the same some people don't want to work until they drop
Well someone has to help pay £100m for a replacement British F-35 fighter jet that crashed last year !
I do think that it is quite nasty that as well as delaying the state pension age, the politicians are about to link the age at which people can draw an income from their private pensions to be no earlier than 10 years before the state pension age – thereby ensuring that people who saved their own money into a pension and invested it successfully will really struggle to retire at a young age, even if they have managed to have built up a really large pension pot.
Once again our politicians are exploiting the ignorance of the public about seemingly boring details that really affect our lives.
Very thought provoking, thank you.
Is the age at which you can start withdrawing your private pension savings linked to the state pension age?
By the time weve paid for Covid most of us will be lucky to get a pension at all ,,,
The only way to live long enough to get the State Pension may be to live a very basic life style, and retire VERY early. The earlier you retire, the longer you live! Check out the stats.
That may not help the current labour market situation thorough….
The COVID situation appears to have generally stopped the politicians coming on TV & Radio and stating " were all living longer" which was/is just an illogical thing to say, as we are not all existing on Earth as a statistic.
Politicians only like stats. when they blow in the direction they like…
I heard one discussion that said life expectancy increase started slowing from about 2010 due to austerity policy's.
Life expectation increase rate also reducing as there were less transitions year on year, from heavy industry to light industry and service jobs, with health improvements. Some areas where life expectancy is poor, are some of the last places that had such a substantial transition.
Let's hope the will revert to 66 and at least postpone the increase to 67 ( just before I claim)
Only have 40 full years NI so far, need another 6 years NI to get the full pension apparently…
They say we live too long but so do Scotland Wales Ireland we give a lot of money to Scotland they get everything free
I think we are close to the point where more will be taking the state pension than paying into it The govt lost its way on this in the 1980s when pension mis seling was around a grea t number dont trust pension arrangements my own view is one day NHS care will have to be paid for just like prescriptions dental care and the state pension will have to be changed too in the next 5 years we will see folk working longer because they can not afford to retire its a mess
Thanks for the update. 🙂
Will the state pension age go up earlier than planned, or will it go down instead? There is much being considered in the current state pension age review – and it affects us all and our retirement planning.
Thanks Helena…following the review, as much as I would love to see the pension age coming down – or even just not increasing – personally, I can’t see it
Like you regularly remind us, looking after yourself as best you can is vital!